Intel announced on Monday that it has acquired PasswordBox, a Montreal-based identity management service that enables users to log into websites and applications without having to type or remember passwords.
PasswordBox, which been downloaded 14 million times, utilizes a one-tap (for mobile devices) and one-click (in browsers) login to provide secure access from any consumer device, and will become a part of Intel Security.
Terms of the transaction, which has already been completed, were not disclosed.
Intel said that it would incorporate PasswordBox’s current and future technologies to help consumers reduce “password fatigue” and incorporate PasswordBox with new, user-friendly authentication technologies that enable users to get the benefit of improved security in a way that is simple to set up and use.
“Everyone can relate to password fatigue,” said Chris Young, senior vice president and general manager of Intel Security Group. “Intel Security and PasswordBox share the same goal of improving digital identity protection across all devices and platforms. We believe we have the technology, expertise and reach to bring simple, secure access to consumers worldwide.”
PasswordBox was founded in 2012 and had 48 employees, all which have joined Intel Security.
According to Intel, the acquisition will support future innovations that will be announced at a later date.
“PasswordBox has spent the last two years building a product that people love, trust and use around the world every day,” said Daniel Robichaud, CEO and co-founder of PasswordBox. “We share Intel Security’s vision of simple, secure access and identity protection across all platforms and devices. Together, we believe we can offer our customers world-class technology, expertise and support to bring such access anywhere – all backed by Intel.”